With economic prosperity came material well-being and one sector which became an immediate beneficiary of this change was the capital goods sector. The capital goods sector (also referred to as the "industrial sector") includes companies that manufacture machinery used to create capital goods, electrical equipment, aerospace and defence, engineering and construction projects. The scalability and sizeability of the capital goods sector have multiplier effect and have a bearing on the self-sufficiency and resource efficient nature of an economy. As India marches towards the Amrit Kaal, the indispensability of the capital goods sector towards empowering the country and increasing its manufacturing sector’s contribution to GDP takes centre stage The visionary policy framework provided in the National Capital Goods Policy of 2016 was further intensified in the Scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector of 2022. The focus on more energy-efficient and lesser emissions producer has created new opportunities for the capital goods sector.

Source: Indian Express September 14, 2023 10:10 UTC